Search Results for: El Salvador

Crypto Flash Crash Prompts El Salvador to Buy the Dip — 150 Bitcoins Added to Treasury

by

As the crypto market shed billions of dollars, El Salvador bought the dip, taking advantage of the falling price of bitcoin early Saturday morning. With the latest buy, El Salvador has purchased a total of 1,370 bitcoins altogether. According to Salvadoran…

‘Bitcoin Is Worth Zero’ — Kenyan Communication Strategist Warns African Investors to Be Wary

by

A Kenyan communications strategist, Mwotia Ciugu, has told African investors to be wary of investing in bitcoin which he claims is worth zero. Bitcoin Structurally Incapable of Delivering on Its Promise In an op-ed published by The Elephant, Ciugu insists bitcoin…

Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets

by

On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned…

President of Mexico Denies Having Interest in Adopting Bitcoin as Legal Tender

by

The President of Mexico, Andres Manuel Lopez Obrador, denied having any interest in adopting cryptocurrencies as legal tender in the country. The statements, offered in a press conference in the National Palace this week, also confirmed that the Mexican government will…

Bitfarms Starts Construction of Mega Bitcoin Mining Farm in Argentina

by

Bitfarms, a bitcoin mining company, announced last week that construction is underway for a mega bitcoin mining farm in Argentina. The facility, which is designed to accommodate 55,000 miners, will be finished by next year. This is yet another signal that…

Central Bank of Uruguay Describes Roadmap to Crypto Asset Regulation

by

The Central Bank of Uruguay has issued a statement describing a roadmap for the regulation of cryptocurrency assets in the near future. The institution stated it has established a group to examine the best way possible to regulate these assets, considering…

Salvadoran President Nayib Bukele Says Citizens Paying for Gas With the Chivo Wallet Will Get a Discount

by

The Salvadoran president, Nayib Bukele revealed on Friday that Chivo wallet users will be able to get a discount on petroleum fill-ups at the largest gas stations in the country. Chivo wallet users paying for fuel will save $0.20 per gallon…

The Big Three Credit Agencies Critique El Salvador’s Bitcoin Adoption — S&P Global Warns of ‘Immediate Negative Implications’

by

All of the ‘Big Three’ credit agencies have said that El Salvador’s adoption of bitcoin could affect the country’s credit rating in a negative manner. After both Moody’s and Fitch Ratings published reports on the matter in El Salvador, S&P Global…

Salvadoran Court of Accounts to Investigate Government’s Bitcoin ATM Buys, Chivo Kiosk Construction

by

According to reports stemming from the Salvadoran Court of Accounts, the regulatory body is planning to investigate the government’s bitcoin automated teller machine (ATM) purchases and Chivo kiosk construction. The investigation follows the recent protest in El Salvador against the adoption…

Vitalik Buterin Among Time’s 100 Most Influential People of 2021

by

Vitalik Buterin, a co-founder of Ethereum, the second-largest cryptocurrency by market cap, has made Time magazine’s list of the 100 most influential people of 2021. The programmer was listed as an innovator, and Time valued his ability to empower other creators…